New-Account Fraud Victims Jump 31% to 5.4 Million in 2025

1 articles · Updated · Fox News · Sep 26

5.4 million people were hit by new-account fraud in 2025, up from 4.2 million a year earlier and marking the sharpest increase among fraud types tracked by Javelin Strategy & Research.
Stolen personal data from years of breaches, phishing and data-broker records is fueling the rise, while fast online account opening gives criminals more chances to test identities without touching existing bank or card accounts.
The fraud is harder to catch because bogus credit cards, phone, utility or buy-now-pay-later accounts may be tied to addresses or emails a criminal controls, leaving victims unaware until a hard inquiry, strange bill or debt-collection notice appears.
Consumers are urged to check Equifax, Experian and TransUnion reports—available free weekly through AnnualCreditReport.com—consider credit freezes, and watch mail, email and account alerts for unfamiliar activity.
The broader cybercrime backdrop is worsening: FBI data cited in the report showed nearly $21 billion in losses last year, including $8.65 billion from investment fraud alone.